Lewisburg, West Virginia Property Taxes
The median property tax rate in Lewisburg, WV is 0.57%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Lewisburg at $138,950, the typical annual property tax bill comes to $956, which is well below the national median of $2,690. Property taxes in Lewisburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lewisburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lewisburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lewisburg, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$792
Ownwell’s Lewisburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lewisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewisburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lewisburg, West Virginia
Property taxes in Lewisburg, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewisburg is 0.57%, which is below the U.S. national median of 0.99%. Local government entities within Lewisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewisburg estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lewisburg's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 24901 zip code has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Lewisburg provides valuable insights into the varying tax landscape across Greenbrier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewisburg Tax Rate
0.57%
Average Greenbrier County Tax Rate
0.57%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewisburg, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24901 | 0.43% | 0.57% | 0.57% | 0.80% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Lewisburg, West Virginia
In Lewisburg, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Greenbrier County Assessor's office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lewisburg, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lewisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lewisburg is $138,950, with the 25th percentile tax bill at $491 and the 75th percentile tax bill at $1,548. The highest and lowest median tax bills both stand at $956 in the 24901 zip code.
Average Lewisburg Assessed Value
$138,950
Average Greenbrier County Assessed Value
$70,500
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewisburg, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24901 | $38,230 | $76,050 | $138,950 | $205,700 | $295,570 |
Source: Ownwell
Property Tax Bills Across Lewisburg, West Virginia
In Lewisburg, located in Greenbrier County, WV, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by county assessors. Factors such as property size, location, and condition play a crucial role in this valuation. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Lewisburg, this process means that properties with higher market values or those that have been recently improved or renovated may face higher property tax bills. The median home price in Lewisburg stands at $138,950. Property tax bills in the area can vary significantly, with the 25th percentile at $491 and the 75th percentile reaching $1,548. The highest median tax bill recorded in the 24901 zip code is $956, reflecting the diverse range of property values and tax obligations within the community.
Average Lewisburg Tax Bill
$956
Average Greenbrier County Tax Bill
$454
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewisburg, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24901 | $206 | $491 | $956 | $1,548 | $2,339 |
Source: Ownwell